IL SB2624 | 2023-2024 | 103rd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates an income tax credit for certain qualified individual taxpayers who rent a dwelling in Illinois for use as their principal place of residence. Provides that the credit shall be equal to 5% of the documented rental costs paid by such taxpayer during the taxable year on that dwelling. Effective immediately.
Title
INC TX-RENTAL PAYMENTS
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-07 | Senate | Session Sine Die |
| 2024-05-03 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2024-04-05 | Senate | Rule 2-10 Committee Deadline Established As May 3, 2024 |
| 2024-03-15 | Senate | Rule 2-10 Committee Deadline Established As April 5, 2024 |
| 2024-01-24 | Senate | Assigned to Revenue |
| 2023-11-03 | Senate | Added as Chief Co-Sponsor Sen. Willie Preston |
| 2023-10-24 | Senate | Referred to Assignments |
| 2023-10-24 | Senate | First Reading |
| 2023-10-24 | Senate | Filed with Secretary by Sen. Natalie Toro |
Code Citations
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2624&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB2624.htm |
